Terms of the deal were not disclosed. Versa Capital added that no major initiatives will be considered for EMS until after the holidays.

Versa Capital chief executive Gregory L. Segall said in a statement, “With a new capital structure and the other resources that Versa can offer, EMS will have many new opportunities to develop its branded products and better serve its customers.”

Advertisement

Versa Capital’s portfolio includes Bob’s Stores, a regional apparel chain. Mark Walsh, a Versa principal and chairman of Bob’s Stores, will serve as chairman of the board of EMS.

In a statement, Walsh noted that plans call for exploring opportunities for Bob’s Stores and EMS to collaborate and for maintaining all of the current EMS stores.